Why Key Mortgage? We’ve got your back!

Getting your clients to the closing table takes superior customer service. Our loan officers answer their phones all day, every day, provide direct access to decision makers and are invested in Baird & Warner. Altogether, Key Mortgage provides your clients with a multitude of financing options. 

Over the past few weeks, there have been multiple announcements about massive layoffs and complete closures of lending instiutions. This is reminiscent of 2008 when major personnel reductions left some lenders so understaffed that they could not meet closing dates – leaving clients sitting at unfunded closings. 

The mortgage industry is currently over capacity. We are seeing struggling lenders cut rates and fees to try to capture any business (and cash flow) to stay afloat. But the reality is that there are too many lenders chasing too few loans, and the industry simply must “rightsize”. 

These are just a few of the recent cuts and closures:

  • loanDepot to shed 4,800 people (42% of its workforce)
  • First Guaranty Mortgage Corp. files Chapter 11 bankruptcy
  • Sprout Mortgage shut its operations with no notice 
  • Chase to cut 1,000 additional home lending jobs
  • Flagstar Bank cut 20% of mortgage staff
  • Rocket Companies has made buyout offers to 2K workers
  • Guaranteed Rate laid off 348 employees and closed its third-party wholesale channel
  • Better Mortgage cut an additional 3,000 jobs

As an agent, you certainly don’t want your client working with a lender that is struggling or unstable. Key Mortgage has been in the business a long time — we are local and vested in the Chicagoland community. Key is financially strong and built ground up to support Baird & Warner agents. 

Reach out to your Key Mortgage loan officer for a preapproval or second look. You can count on us to get your clients to the closing table.

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